Definition:
In sports betting, the favorite is the team or player expected to win a matchup. Sportsbooks assign them lower (or negative) odds because their probability of winning is higher.
They serve two main purposes:
Identify which side is statistically or publicly expected to win.
Set payouts at lower returns, since betting on the favorite carries less risk.
Real-World Example
NFL Game: San Francisco 49ers vs. Arizona Cardinals
49ers are –250 favorites (expected to win).
You’d need to bet $250 to profit $100 if the 49ers win.
The Cardinals, by contrast, would be listed as underdogs at +200, meaning a $100 bet would profit $200 if they pull the upset.
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